McDonald’s (NYSE:MCD) PT Raised to $360.00

McDonald’s (NYSE:MCD) had its price objective raised by investment analysts at Tigress Financial from $355.00 to $360.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the fast-food giant’s stock. Tigress Financial’s price target suggests a potential upside of 25.05% from the stock’s previous close.

A number of other research analysts have also recently commented on MCD. Citigroup reduced their price objective on McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. KeyCorp dropped their target price on McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Guggenheim lifted their target price on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. Finally, Jefferies Financial Group dropped their target price on McDonald’s from $320.00 to $310.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus price target of $303.89.

McDonald’s Price Performance

Shares of MCD opened at $287.89 on Tuesday. The stock’s 50-day moving average is $267.35 and its two-hundred day moving average is $270.81. The stock has a market cap of $206.52 billion, a PE ratio of 24.44, a P/E/G ratio of 3.86 and a beta of 0.71. McDonald’s has a 12 month low of $243.53 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.17 EPS. On average, research analysts anticipate that McDonald’s will post 11.67 earnings per share for the current year.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,291 shares of company stock valued at $1,689,073. 0.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On McDonald’s

Several hedge funds and other institutional investors have recently made changes to their positions in MCD. Gilbert & Cook Inc. lifted its position in McDonald’s by 20.7% in the fourth quarter. Gilbert & Cook Inc. now owns 4,384 shares of the fast-food giant’s stock worth $1,300,000 after purchasing an additional 753 shares during the period. Aveo Capital Partners LLC lifted its position in McDonald’s by 14.5% in the fourth quarter. Aveo Capital Partners LLC now owns 1,899 shares of the fast-food giant’s stock worth $563,000 after purchasing an additional 240 shares during the period. 9258 Wealth Management LLC lifted its position in McDonald’s by 4.2% in the fourth quarter. 9258 Wealth Management LLC now owns 2,796 shares of the fast-food giant’s stock worth $829,000 after purchasing an additional 113 shares during the period. Gryphon Financial Partners LLC increased its holdings in shares of McDonald’s by 99.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 5,892 shares of the fast-food giant’s stock valued at $1,722,000 after buying an additional 2,935 shares in the last quarter. Finally, Hyman Charles D increased its holdings in shares of McDonald’s by 2.9% in the fourth quarter. Hyman Charles D now owns 159,450 shares of the fast-food giant’s stock valued at $47,278,000 after buying an additional 4,462 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.